Company Update : RBL Bank by Motilal Oswal Financial Services Ltd
Significant loan and deposit growth, supported by FCNR(B) inflows; CD ratio improves to ~91.7%
* RBK reported a strong growth of 40% YoY/22% QoQ in gross advances to INR1.43t (7% above our estimate). Advances growth, excluding loans provided by the IBU against FCNR(B), was 30% YoY/13% QoQ.
* Within retail, secured retail advances grew 51% YoY/42% QoQ, including loans provided by IBU against FCNR(B) deposits. Wholesale advances grew 55% YoY/21% QoQ. The mix of retail/wholesale advances is 56%/44% vs. 55%/45% in 1QFY27.
* Deposits saw exceptional growth of 34% YoY/25% QoQ to INR1.56t, led by strong FCNR(B) mobilization of USD3.4b (~26% of total deposits), above our estimate of 27% YoY/18.6% QoQ growth.
* CASA deposits rose 14% YoY/17% QoQ. As a result, CASA ratio declined to 27.2% (vs. 29.2% in 1QFY27).
* RBK reported robust business growth, above our expectations. Consequently, on a gross advance basis, the CD ratio improved to 91.7% from 94% in 1QFY27. LCR stood at 148% compared to 133% in 1QFY27.
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
.jpg)
